Sequans Communications (NYSE: SQNS) reported Q4 EPS of ($0.30), in-line with the analyst estimate of ($0.30). Revenue for the quarter came in at $9.2 million versus the consensus estimate of $8.75 million.

"2019 was a year of both frustrating delays and gratifying strategic accomplishments,” said Georges Karam, Sequans CEO. “Now, we are entering 2020 with strong momentum on several fronts: the ramp in Cat M is picking up, with more Monarch-powered devices entering mass production; the inventory issue with one Cat 1 customer is expected to be fully resolved in Q1; and the broadband business is beginning to recover. Meanwhile, we are ready for volume shipment of the Monarch SiP, our joint solution with Skyworks, and we have made additional progress with our go-to-market by signing two major distributors.

"Finally, the most significant testaments to our leadership in 5G/4G chips and modules are the important partnerships we’ve closed in 2019, including an $8.4 million strategic investment, as well as two non-exclusive multi-year licensing and services deals with strategic partners totaling over $40 million that will help accelerate our road map. We intend to build on this momentum and make 2020 a year of significant progress, further reinforcing our leadership by offering a complete portfolio of 5G chips and modules fully-optimized for IoT applications.”

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